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>>A Binance-listed cryptocurrency is burning a significant number of tokens today, but a price rebound hasn't yet materialized.

A Binance-listed cryptocurrency is burning a significant number of tokens today, but a price rebound hasn't yet materialized.

crypthub

about 16 hours ago

REZ Governance Proposal

The Renzo (REZ) community introduced governance proposal RP6, suggesting a buyback and burning of 10% of the total REZ token supply. Protocol revenues will fund this plan, which is scheduled for phased implementation over six months. The proposal allocates 75% to 100% of Renzo protocol revenues to buybacks.

Token Burn Details

Of the 10% supply reduction, 9% will be burned, while 1% will be distributed as rewards for ezREZ stakers. The initiative began with an initial burn of 1% of the total supply, representing about 2.3% of the circulating supply. This first burn, generated in Q3 2025, contributes to the overall target.

REZ Token Performance

The proposal was posted on the Renzo administration forum for community review. REZ is currently trading at $0.01018, a 29.45% decrease. The token's value is down 96.14% from its peak of $0.2638, achieved on April 30, 2024.